Gold prices are expected to decline for the week on Friday (August 15th), as higher-than-expected US inflation data dampened expectations for a 50 basis point (bps) Fed rate cut in September. Spot gold prices rose 0.1% to $3,339 per ounce at 02:44 GMT. Bullion prices have fallen 1.8% over the week. US gold futures for December delivery were flat at $3,384. "Gold is still grappling with the impact of the surge in PPI, which raises questions about how much the Fed is willing to cut rates this year," said Tim Waterer, chief market analyst at KCM Trade. The US producer price index (PPI) rose...
Gold prices gained on Friday, helped by a pullback in the dollar, although bullion was headed for a weekly fall as hotter-than-expected U.S. inflation data dented expectations for a super-sized 50-basis-point (bps) Federal Reserve rate cut. Spot gold rose 0.2% to $3,341.90 per ounce as of 0653 GMT. Bullion has lost 1.5% for the week. U.S. gold futures for December delivery gained 0.1% to $3,387.60. "Gold is still grappling with the aftermath of the PPI jump, which raised questions over just how far the Fed may be inclined to reduce rates this year," said Tim Waterer, chief market analyst...
Oil prices fell on Friday as concerning economic data from the U.S. and China, the world's two largest oil users, increased worries about fuel demand while investors also await the summit between U.S. President Donald Trump and Russian leader Vladimir Putin. Brent crude futures fell 39 cents, or 0.58%, to $66.45 a barrel by 0750 GMT. U.S. West Texas Intermediate crude futures declined 42 cents, or 0.66%, to $63.54. For the week, WTI is set to drop 0.5% while Brent is set to decline 0.2%. Chinese government data released on Friday showed factory output growth slumped to an eight-month low...